Skip to main content

Stanbic Bank to empower local contractors with Caterpillar equipment

Local contractors across all sectors of the economy are now expected to be better positioned to compete more-favourably with their foreign counterparts.

This is mainly in terms of equipment supply through a special arrangement between Stanbic Bank and Mantrac Ghana, the sole authorized local dealer in Caterpillar equipment. 

This is possible through a partnership between the bank’s parent company, Standard Bank Group and Caterpillar Financial Services in 6 African countries including Ghana. 

Speaking to JOY BUSINESS after the launch the Managing Director of Stanbic Bank, Alhassan Andani described the move as timely for the country’s development agenda. 

“Infrastructure is the key to economic development. So we’ve heard of the Eastern corridor, Oil and Gas infrastructure, dams for irrigation and Ports and Habours expansion. These are massive infrastructure projects and we all know that its always the foreign contractors who are able to use their bigger financial muscle outside to land the equipment and pre-qualify for the jobs” he noted.

“But with this kind of collaboration we would be able to help local construction companies to locally through Caterpillar’s dealership be able to get the right equipment to support their tendering processes. So for us this a game-changer” he explained.

Meanwhile, JOY BUSINESS has learnt the total financing requests for Caterpillar equipment supplies so far received by the bank amounts about 60 million dollars. 

JOY BUSINESS has also learnt Caterpillar equipment is constitute over 60 percent of the 175 million dollar worth of earth-moving equipment imported into the country every year. 

Comments

  1. Joanne2 November 2013 at 17:04

    Looking for information on local contractors? Before any home remodeling project it is a good idea to get estimates from several pros. Get quotes from qualified remodeling contractors now!

    Local Contractors

    ReplyDelete

Post a Comment

Popular posts from this blog

CIMG holds strategic marketing conference

By: Fred Yaw Sarpong The Chartered Institute of Marketing, Ghana (CIMG)’s annual strategic marketing conference will take place at the Golden Tulip hotel in Accra between October 26 and 27, 2016. The conference is part of the institute’s mission to improve on the performance of marketers, professionals and administrators within corporate Ghana. The theme for the conference; “Democracy and National Cohesion: Marketing a new Political Paradigm.” Mr. Kwabena Akuamoah Agyekum, the Executive Director of CIMG said the conference seeks to promote the CIMG advocacy mission to impact on professional, corporate organizations and officialdom. He mentioned that four resource persons are billed to present papers over the two day event covering very exciting and insightful segments of the theme under the chairmanship of the Marketing Woman for Year 2015, Ms. Maidie Elizabeth Arkutu, Managing Director of Unilever and Dr. Doris Dartey, a Media Consultant. Mr. Agyekum said the speake...
Post a Comment
Read more

Vodafone Ghana gets new CEO

The Board of Directors of Vodafone Ghana have appointed Haris Broumidis as the new Chief Executive Officer (CEO). His appointment took effect from July 15, 2013. Haris Broumidis joined Vodafone in 2002 as the Marketing Director and Enterprise Unit Director in Vodafone Greece and moved on to Vodafone Albania as the CEO in 2007. Under his leadership, Vodafone Albania became the undisputable leader in the telecoms sector. In 2012, he joined Vodafone Group in its h eadquarters, London, as the Commercial Director for Europe. Among several other responsibilities he was tasked with the acceleration and implementation of Vodafone’s commercial priorities in European markets. He brings on board several years of experience and a winning strategy to strengthen Vodafone Ghana’s number two position in Ghana’s telecom market and also make it the undisputed leader for enterprise. Haris Broumidis is from Greece and studied Economics at the University of Athens. He pursued his MBA at the ...
Post a Comment
Read more

Barbering Salons, bridging the unemployment gap in Ghana

By: Fred Yaw Sarpong Barbering business in Ghana is money making venture, depending on the location of the shop. Various barbering shops scattered across the country charges according to the location of the shop. The nature and sustainability of every barbering shop depends on the location of the shop. The location will determine how much one can charge a customer for barbering his or her hair. Checks indicate that some barbering shops located at Spintex, East Legon and Osu Oxford street charges between GHc15.00 and GHc20.00 per hair cut. At South La Estate, it will cost a customer to pay GHc4.00 for hair cut, while one will have to pay GHc3.00 to barber his or her hair at a place like Nima, Maamobi and Mallam Gbawe. Royal Vulture Executive Barbering Salon is one of the biggest barbering salons one can locate within Accra. One is its shops is located at Madina, near Taxi rank while one is located at Accra New Town, near the Post Office. Customers at Madina pay GHc7.00 ...
7 comments
Read more